Peloton treadmill recall reveals the price of fame: analyst

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Peloton treadmill recall reveals the price of fame: analyst

Yahoo Finance2021-05-06

Peloton's rocket ship-like growth during the pandemic is not without downside, as the connected equipment maker learned in a painful lesson on Wednesday.Peloton (PTON) CEO John Foley said Wednesday ...

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Kiteflying
·2021-05-06
Tumble and dump
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ShawnEe
·2021-05-06
Nice
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- ShawnEe:
  Haha
  2021-05-06
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TJW1991
·2021-05-06
Like and comment
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Peloton shares were also the top-trending ticker on the Yahoo Finance platform in early afternoon trading.\"We view this as another sign that Peloton’s voice and platform grew faster than its business, and it is still working to grow into its fame,\" BMO Capital Markets analyst Simeon Siegel wrote in a research note soon after the recall.Continued Siegel, \"With a still ~$30 billion market cap vs. consensus-expected ~$4.1 billion of FY21 revenues, Peloton's market value looms much larger than its expected results and we believe one can argue more of Peloton's market value has been created by its marketing department than by its engineers or instructors. Recommend the bike, worried about shares.\"Siegel maintained his Underperform rating on Peloton with a $45.00 price target.Inside the recallIn its release, the CPSC noted that in addition to a child's death there were 70 \"incidents\" related to the treadmill. 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We have a desire and a responsibility to be an industry leader in product safety.”The CSPC said today that Peloton is currently working on hardware modifications for the Tread+. The cheaper Tread was part of a limited, invitation-only release from November 2020 to this past March, and the CSPC said Peloton is working on a repair to be issued in the coming weeks.Peloton itself raised concerns about the Tread+ in March, when Foley posted a letter on the company's website noting that fatal accident involving a child and the company's treadmill.\"While we are aware of only a small handful of incidents involving the Tread+ where children have been hurt, each one is devastating to all of us at Peloton, and our hearts go out to the families involved,\" he wrote.While Peloton doesn't disclose its sales figures for treadmills, they are seen as a key ingredient of diversifying the revenue base beyond bikes and widening the company's total addressable market.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":105209760,"gmtCreate":1620303146050,"gmtModify":1704341603912,"author":{"id":"3559824795366750","authorId":"3559824795366750","name":"Kiteflying","avatar":"https://static.tigerbbs.com/0c4e5c6dfeb378c0ccafe8d68fd396c2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3559824795366750","authorIdStr":"3559824795366750"},"htmlText":"Tumble and dump","listText":"Tumble and dump","text":"Tumble and dump","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105209760","repostId":2133526901,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":105649125,"gmtCreate":1620301141767,"gmtModify":1704341575357,"author":{"id":"3578955025308885","authorId":"3578955025308885","name":"ShawnEe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578955025308885","authorIdStr":"3578955025308885"},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/105649125","repostId":2133526901,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4241495,"gmtCreate":1620301710761,"gmtModify":1680787288611,"authorId":3582773445134821,"author":{"id":3582773445134821,"idStr":"3582773445134821","authorId":3582773445134821,"name":"hwwong1230","avatar":"https://static.tigerbbs.com/bf68349f7c8e0395c93a308fa5c755c2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":105649125,"type":1,"supId":4241438,"prevId":0,"content":"like And&nbsp; 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